Asia Commercial Bank, Vietnam's No.5 lender and 15 percent-owned by Standard Chartered Plc, said third-quarter net profit rose by two-thirds, putting it on track to hit its annual earnings target.

Ho Chi Minh City-based ACB said January-September net profit jumped to VND496.47 billion from VND298.43 billion a year earlier.

ACB has targeted VND2.7 trillion in net profit for 2009, the financial news site quoted ACB as saying. That would be 5.5 percent higher than last year.

Total assets at end-September were VND169.51 trillion, up 61 percent from the end of 2008, the bank said.